JERSEY, CHANNEL ISLANDS--(Marketwire - Mar 30, 2012) -
RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD RANDGOLD POSTS ROBUST RESERVE PROFILE WITH INCREASED OVERALL GRADE London, 30 March 2012 - Randgold Resources Limited today reported attributable reserves of 16.28 million ounces compared to 16.38 million ounces a year ago, despite a 58% increase in production. The overall reserve grade was increased from 3.78g/t to 3.84g/t, in line with the company's focus on quality over quantity. Randgold's annual mineral resource and reserve declaration, published as part of its 2011 annual report, shows that at the attributable level, measured and indicated mineral resources remained steady at 21.77 million ounces over the year, while inferred mineral resources decreased from 7.00 to 6.48 million ounces as inferred material was converted to the indicated category to replace mining depletion. The past year was one in which the company's exploration efforts focused on infill and verification drilling to bring the Gounkoto and Tongon mines into production and advance the detailed feasibility and development studies at Kibali. Recent down-plunge drilling on the KCD deposit at Kibali confirmed continuation of the 3000 lode. The 450 metre down-plunge extension of the current resource model has yet to be included in the mineral resource estimate. Also drilling beneath the Tongon pits has resulted in a 59% increase of inferred resources, from 0.93 million to 1.48 million ounces at a grade of 2.67g/t. These additional resources have the potential to add in-pit ounces at a relatively low strip ratio in the Southern Zone pit and will be the focus of further drilling for conversion to reserves during the year. The Gounkoto reserve has only been optimised on an open pit basis but encouraging grades below the pit indicate significant underground potential. An updated underground scoping and interface study is planned for completion this year. Exploration at Kibali this year will focus on the evaluation of the remaining resource inventory acquired with the Moto transaction as well as the high grade extensions down-plunge of the KCD deposit and the adjacent underground deposits of Gorumbwa and Agbarabo."The increase in our overall reserve grade is very significant given the marked decreases in grades we have seen from many gold mining companies' reserve/resource statements filed recently, as the industry seemingly moves away from quality to quantity. We haven't been tempted to use the increased price of gold to boost our ounces, but continue to calculate our reserves at a relatively conservative US$1 000/oz gold price while taking cognisance of higher input costs. Our mineral resources have been estimated at US$1500/oz," said group general manager for projects and evaluation Rod Quick. http://www.rns-pdf.londonstockexchange.com/rns/4709A_1-2012-3-30.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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